Montage Gold continues to rapidly advance its Koné Project with first gold pour expected in late Q4-2026

Montage Gold continues to rapidly advance its Koné Project with first gold pour expected in late Q4-2026 On-budget with 63% of capital committed • Ball mill shell delivered to site • Continued strong exploration focus January 19, 2026 06:25 ET | Source: Montage Gold Corp HIGHLIGHTS: Rapid progress achieved with over 7.2 million hours worked and more than 3,000 employees and contractors on-site Key process plant achievements include the erection of all 14 CIL tanks, completion of the oxide sizer, and delivery of the ball mill shell to site with all preparatory works completed in time for installation, marking a significant milestone Other key workstreams completed include site water storage infrastructure and the resettlement village, whilst other key workstreams such as the HDPE lining of the TSF and grid connection are well advanced Construction remains on-budget with more than $545m of capital committed, representing approximately 63% of the total upfront capital expenditure, with prices in-line with expectations Given the strong advancement, the first gold pour is anticipated in late Q4-2026 through the oxide circuit, whilst the hard-rock comminution circuit remains well on schedule for completion in Q2-2027 Exploration remains a strong focus at Koné with another initial 90,000-meter drill programme launched for 2026, in addition to 9,000 meters of drilling planned for the recently awarded Wendé advanced greenfield property ABIDJAN, Côte d'Ivoire, Jan. 19, 2026 (GLOBE NEWSWIRE) -- Montage Gold Corp. (“Montage” or the “Company”) (TSX: MAU, OTCQX: MAUTF) is pleased to announce that rapid construction progress continues to be made at its Koné project, in Côte d’Ivoire, where the first gold pour through the oxide circuit is anticipated in late Q4-2026. A total of over 7.2 million construction hours have been worked since the commencement of the project with key milestones achieved including the erection of all 14 CIL tanks, piperack and grid mesh walkways, completion of the oxide sizer and the delivery of the ball mill to site. Given the strong advancement, the first gold pour is anticipated in late Q4-2026 through an oxide circuit startup, whilst the hard-rock comminution circuit remains well on track for completion in Q2-2027. A total of approximately $545 million of capital has been committed to date, representing approximately 63% of the total upfront capital expenditure, with prices in-line with expectations. In parallel, the Company continues to be focused on unlocking value through its exploration programme with approximately 115,000 meters drilled in 2025, compared to its initial budget of 90,000 meters, in addition to 56,000 meters of pre-production drilling conducted at the Koné and Gbongogo Main deposits. Based on the drilling completed last year, the Company expects to publish updated Mineral Resource Estimates in Q1-2026 for several satellite targets, in addition to updated resources for the Koné and Gbongogo Main deposits along with the results of the pre-production drilling programme which confirmed both the grade and continuity of the mineralized envelopes and identified high-grade zones. Following on from last year’s success, the Company recently launched an initial $16 million drill programme for 2026, comprising 90,000 meters of drilling at the Koné project and 9,000 meters for the recently awarded Wendé advanced greenfield property. Martino De Ciccio, Chief Executive Officer of Montage, commented: _“We are very pleased with the momentum generated thus far to advance our strategy of creating a premier multi-asset African gold producer and delivering value for all our stakeholders._ _Construction at our flagship Koné project in Côte d’Ivoire continues to progress at a rapid pace with a number of key milestones achieved including completion of the oxide sizer and delivery of the ball mill shell on site, which positions us to target a first gold pour through an oxide circuit start-up in late Q4-2026. Moreover, we are continuing to enjoy significant exploration success at the Koné project given the discovery of higher-grade satellites, with notably the Petit Yao discovery announced late last year._ _Looking ahead, we are also pleased to be consolidating a project pipeline through the acquisition of African Gold, where recently published drill results continue to confirm the prospectivity of the Didievi project in Côte d’Ivoire. We are also excited to commence drilling this year at our newly awarded Wendé advanced greenfield property in Côte d’Ivoire with the goal of sourcing the next project through our ability to stake prospective grounds and explore._ _I’d like to take this opportunity to thank our employees, contractors, financiers, local stakeholders, and wider partners for their strong dedication and support as we continue to deliver on our collective goals.”_ Peder Olsen, President and Chief Development Officer of Montage, commented: _“Construction activities at our Koné project continue to progress at a rapid pace, with more than 7.2 million hours worked to date and number of key milestones achieved several months early. Notable progress includes the completion of the oxide sizer, erection of 14 CIL tanks and significant progress on the installation of structural steel and piperacks, the commencement of pipework installation, as well as significant progress on the TSF, with the dam wall completed 3 months ahead of schedule, construction and internal fit out of the 225kV substation and assembly of transmission line towers._ _The delivery of the ball mill shell on site marks a critical milestone on our journey and together with our construction achievements, positions us to target first gold pour through an oxide circuit start-up in late Q4-2026. Concurrently, we continue to make rapid progress on the hard-rock comminution circuit which remains on-budget and well on-schedule for completion in Q2-2027._ _The resettlement village has been successfully completed and is now fully occupied following the opening ceremony for the village, which was attended by more than 1,000 people and is a reflection of our strong partnerships with our local stakeholders given our win-win partnership approach._ _In parallel to our construction efforts, we are making good progress on executing our operational readiness plan, with the mobilisation of high calibre operating teams and mining equipment scheduled to occur over the coming quarters._ _Looking ahead, we are excited with the ongoing efforts to build a project pipeline with the goal of leveraging our in-house construction expertise to unlock further value for our stakeholders.”_ _KONÉ PROJECT UPDATE_ Construction continues to progress on-budget with rapid progress made across a number of key workstreams as summarized below: * On-site workforce now exceeds 3,000 employees and contractors, with over 7.2 million hours worked, and with over 90% local employment, demonstrating the Company’s commitment to local content. * Process plant construction continues to rapidly advance: ...